Real Estate Executive

BRIAN EDWARD REEL, CPA, CA Mobile: 647-***-****

Email: ************@******.***

Executive Summary

An accomplished senior financial executive offering experience in a variety of circumstances. Has led finance and IT functions as a member of the senior leadership team. A passionate and tireless leader and team builder has utilized broad management skills in treasury, taxation, project management, strategic and financial planning and investor relations. Recognized for superior technical, analytical and communication skills, and the ability to build and manage relationships at multiple levels. Known for problem solving and decision-making abilities. Career Summary

Northern Reflections VP, Finance & IT 2014 - 2016

A women’s wear retailer with tight financing and poor Executive cohesiveness Background: Joined Northern when cash was tightening. Replaced incumbent who had lost respect of Ownership and Management team.

Situation: Joined Company with responsibility for Finance and IT as a member of executive team. Predecessor had alienated Finance and IT Departments from remainder of organization. Managed Finance and IT functions. Instituted review of overhead costs. Worked with bankers to increase line of credit and within two months obtained a badly needed 25% increase in banking facility. Introduced daily cash flow. Improved financial reporting to determine true profitability of retail outlets. Began managing relationships with CRA, bankers, auditors, ownership and the Board. Instituted video conferencing to reduce costs and improve communication with remote offices. Handed additional responsibilities for real estate portfolio and legal compliance. Outlined cost saving opportunities. Partnered with HR and operations to select and replace antiquated payroll software. Engaged VP, Operations to improve staff scheduling at store locations. Worked with other Executives to obtain new loan at a new bank at a still higher loan limit and lower interest rate. Instituted skills analysis and training program.

Costa Blanca Chief Financial Officer 2012 - 2014

A women’s wear retailer and wholesaler with new ownership emerging from bankruptcy Background: Joined Costa Blanca when it was carved out of a bankruptcy. Managed critical time with low cash flow and no new equity. Debts exceeded tangible assets. Situation: Company was re-booted as a standalone organization after a restructuring. No new equity meant survival and cash flow were primary concerns. Instituted systems and controls, with primary responsibility for Finance and IT as a member of executive team. Also given additional responsibilities during absences of Owner/President.

Managed Finance and Merchandise functions. Began managing relationships with bankers, auditors and the Board. Started to organize new operations. Started a new merchandise pricing and markdown strategy and prepared detailed merchandise budgets. Key member of merchandise and retail pricing review team. Re- organized and re-structured company, cutting overheads dramatically, especially in US wholesale business that BRIAN EDWARD REEL, CPA, CA

turned into a profitable organization. Assumed responsibilities for Payroll, HR, treasury, insurance and taxation. Led budgeting process for finance and merchandise and cash flow management. Helped manage production planning and logistics to integrate with overall Sales budgets. Managed leasing portfolio. Grafton-Fraser Inc. (GFI) 1993 - 2011

A well-established menswear retailer with more than 150 outlets across Canada Background: Joined Grafton-Fraser when it was a small subsidiary of a public company. GFI was then sold off to an employee ownership group, subsequently making a number of acquisitions with consequential integrations and then finally a majority stake was sold to a US private equity fund. GFI - SVP & CFO (controlled by private equity group of Gordon Brothers) 2007-2011 Situation: Following sale of majority interest to private equity fund, continued responsibility for Finance and IT as a member of executive team. Focus of new shareholders was on cash flow, EBITDA and debt management. Managed Finance and IT functions. Continued managing relationships with bankers, auditors and the Board. Worked with new long-term lender, and additional covenant and shareholder reporting. Maintained responsibilities for treasury, insurance and taxation. Led budgeting process and cash flow management. Responsible for Payroll systems and Human Resource issues such as labour standards and human rights. Introduced Business Intelligence system.

Reduced funding requirement from line of credit. Standardized payment terms to all Suppliers, extending average payment term. Co-ordinated with Merchants to sell new terms to Suppliers. Demonstrated key benefits to Suppliers. Improved productivity in Distribution Centre. Reduced average outstanding loan outstanding by $2.2 million.

Updated System Technology. Worked with Operations to determine strategy and implementation of new POS initiative. Expanded communication with Stores and integrated debit and gift cards. Sourced alternative hardware and software suppliers. Prepared ROI for project, presented to Executive and Board. GFI - CFO (private entrepreneurial company) 1994-2007 Situation: As a member of senior management team, led Finance, IT and co-led Human Resources as the Company re-invented itself as a manager-owned Company following management buy-out. GFI had three banners: Jack Fraser, Grafton & Co. and George Richards. Managed all monthly and annual reporting to owners and government agencies.

Managed Finance and IT functions. Managed relationships with staff, executives, bankers, auditors and the Board. Responsible for all financial reporting and covenant reporting. Continued responsibilities for treasury, insurance and taxation. Led budgeting process. Responsible for Payroll systems and Human Resource issues such as labour standards, significant terminations and human rights. Restructured Accounting and IT Departments. Reviewed operations of Accounting Department. Eliminated redundant procedures. Introduced technology to Department. Started training to raise productivity of staff. Improved morale by including more staff in decision-making process. Assumed leadership of IT department. BRIAN EDWARD REEL, CPA, CA

Reviewed architecture to simplify support needs. Reduced headcount by almost one-third. Played leadership role in the acquisition of biggest direct competitor, almost doubling the size of the company. Prepared cash flows and ROI on different scenarios to acquire Tip Top Tailors (102 stores). Negotiated with existing and potential lenders to fund acquisition. Took lead role in negotiating terms of asset purchase agreement. Worked with law firms, audit firms and investment bankers. Conducted due diligence in-house, reducing purchase price by $3.2 million.

Helped to integrate acquisitions. Developed plans with Executive team to merge Jack Fraser and Tip Top Tailors banners. Prepared ROI on merger. Closed redundant locations, keeping lease termination costs to a minimum. Assisted in negotiations with landlords and SVP Real Estate. Planned and managed IT requirements to merge chains. Newly reconstituted Tip Top Tailors better able to compete in marketplace. Helped controlling shareholder with outside investments, exit strategy and to maximize selling price. Assisted controlling shareholder with personal investments in hospitality and real estate ventures. Reviewed offers to sell GFI. Dealt with acquirer and their lawyers through due diligence and led response to requests for financial and operational information. Purchase price rose by almost 20% during due diligence. Worked with KPMG to optimize tax on sale to both existing and future shareholders. GFI - Controller (subsidiary of Cadillac Fairview) 1993-1994 Situation: As the senior finance executive had the opportunity to participate in a turnaround and was responsible for budgeting, reporting, taxation and insurance. The company had just come out of CCAA court proceedings, and was still subject to court monitoring.

Managed Payroll and assisted with Human Resources. Managed Payroll systems and support to pay upwards of 2000 commissioned and non-commissioned employees bi-weekly. Provided legal and HR compliance (labour standards, human rights) issues. Liaised with government auditors. Played key role in management buy out. Prepared cash and liquidity scenarios. Partnered with asset-based lender. Managed through CCAA restructuring requirements, buying out CCAA claims at a discount. Prepared due diligence reports for lender and legal firms. Supported CEO in successful effort. KPMG LLP (originally Peat Marwick Mitchell & Co.) 1982-1993 Junior Auditor to Senior Manager; Banks, Insurance, Industrial and Consumer Packaged Goods Education and Professional Development

Chartered Professional Accountant and Chartered

Accountant, CPA Ontario

Bachelor of Commerce, University of Toronto

Boardroom Presentation Skills

Advanced Excel Techniques

Business Valuations - Advanced

Volunteer Positions

Pickering Public Library, Pickering, ON Member, Board of Directors BRIAN EDWARD REEL, CPA, CA

Holy Redeemer Church, Pickering, ON Finance Committee, Building Committee, Pastoral Committee

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